#2 - Tesla (NASDAQ:TSLA)
Tesla Inc. (NASDAQ: TSLA) has been a favorite of retail investors since the company first went public. Those early adopters have seen TSLA stock go through many boom-and-bust cycles. In 2024, the company is going through a bust time, with shares down nearly 28%.
Tesla founder and CEO Elon Musk is always in the news for various reasons, which can be positive or negative for TSLA stock. However, as of June 2024, the central issue facing the company is its EV business. Tesla is the unquestioned leader among U.S. electric vehicle manufacturers and is under scrutiny as mass adoption of EVs remains on hold for many reasons.
Analysts continue to be bearish on TSLA stock, which has been one of the most downgraded stocks in the last several months. Before getting involved, investors should ask if this dip is just a matter of price discovery or if it indicates a larger problem with the company. Based on a consensus price target that is still at $185.90, this looks like a time to wait for the price to go down and buy the dip.
About Tesla
Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.
Read More - Current Price
- $320.72
- Consensus Rating
- Hold
- Ratings Breakdown
- 14 Buy Ratings, 16 Hold Ratings, 9 Sell Ratings.
- Consensus Price Target
- $230.18 (28.2% Downside)
